Source: Cointelegraph Original: "{title}"
According to John D'Agostino, head of institutional strategy at Coinbase, sovereign wealth funds and other institutions are accumulating Bitcoin during April 2025, while retail traders are exiting through ETFs and the spot market.
In a recent interview with CNBC, the Coinbase executive compared Bitcoin to gold, stating that many institutional buyers view Bitcoin as a hedge against currency inflation and macroeconomic uncertainty. He said, "The trading of Bitcoin is based on its core characteristics, which are similar to those of gold. You have scarcity, immutability, and the portability of a non-sovereign asset. So the way it trades is how those who believe in Bitcoin want it to trade."
"If you’ve done your research, you’ll find that very few assets can match the characteristics of gold. Bitcoin is on that short list," he added.
Governments and financial institutions are increasingly adopting Bitcoin to protect the value of purchasing power and fiscal reserves in the face of macroeconomic shocks and geopolitical tensions.
Institutional Adoption of Bitcoin Reserve Strategies Against Inflation
Sovereign nations like El Salvador and Bhutan have adopted national Bitcoin reserves and are actively purchasing Bitcoin as part of their reserves.
Municipal authorities and state governments have also adopted pro-Bitcoin policies and proposed related legislation aimed at accumulating Bitcoin to protect fiscal reserves from the devaluation of fiat currency.
Michael Saylor and Strategy (formerly MicroStrategy) have promoted the concept of corporate Bitcoin reserves, which is now being adopted by an increasing number of companies, including MARA, MetaPlanet, and Semler Scientific.
The executive also transformed the business software and intelligence company into a Bitcoin holding company, similar to a Bitcoin hedge fund.
On April 20, Saylor announced that over 13,000 institutions have direct exposure to Strategy, with an estimated 55 million beneficiaries having indirect exposure to the company's financial status.
Bitcoin recently surpassed Google in market capitalization, making it one of the top five assets globally, ranking above Amazon and silver, showcasing the rapid growth of this capped supply digital asset since 2009.
Related: Angel investors from Castle Investment Company, Jane Street Capital, and JPMorgan funded Theo Network with $20 million.
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